Funding Refused By Paul Elio

[Smitty901]

The relevance is Professor Paul Elio faculty of Engineering, Phoenix University. One and the same. Had a class of students design vehicle seats. Selected the the best parts from many. Built a prototype seat. Raised $4.5M and went into the business of building seats. Beautiful, comfortable, strong, safe seats. Perhaps should have taken marketing 101 at some point in the plan. He turned down a joint venture with Bostrom Seat Co., over the issue of control. I truly hope Mr. Elio did learn from his experience, learned enough to get the necessary financing while satisfying his need for control of the product.

Our family invested heavily in the RotorWay Helicopter Company. BJ the president was 100% in control and decided that they would make every single part in-house. The main rotor shaft failure was why the first aircraft were a failure, but building the engine crankshaft in-house was the cause of the company failure. The cost of building the crankshaft was many times greater than purchasing it and bankrupted the company. The new owners of the company were very clever. They took the top people and asked them to anonymously write down 10 good things about the company, 10 bad things about the company, 10 good things about the product and ten bad things about the product. This became the restructuring plan. Sometimes it takes more than one man's idea to bring a successful product to market. http://www.rotorway.com/

Outstanding and well put. That is what happens and how it gets fixed in the world today

 

[Reid3400]

WilliamH. I did not excel in English 101, but I did pass. What format does citing one's sources take to be understood? Much of the information I have posted comes from my failing memory. But all of the facts can be found by Googling "Professor Elio" and then following threads.

I like the recent question if one would contribute to crowd funding or an IPO? It has already GONE the crowd funding route in disguise. The current holders of a place in line, are the crowd funding. The fact that EM has a financing company and has not done an IPO troubles me. The only reason not to try going public is because of the probability of failure. One does not necessarily loose control of the company by going public. One usually looses control of a public company only when the company is not well run. This little company went public and raised $300M with the IPO, burned it down to $20M, built it back to @$95M and was sold to Mill City Capital. All within 12years. http://www.bonnettsenergy.com/ A classic example of running a company into the ground on public money and going back to being a private entity.

 

[RUCRAYZE]

well, it's been a few weeks, and no progress both in the production, nor the content of the posts, still biting each other, stating B.S. as Fact, and carrying on like a marriage about to crumble.
It's like bicycle touring on a stationary bike, going nowhere, seeing no new sites.
good luck to us all, waiting for my option request form!

 

[Rickb]

well, it's been a few weeks, and no progress both in the production, nor the content of the posts, still biting each other, stating B.S. as Fact, and carrying on like a marriage about to crumble.
It's like bicycle touring on a stationary bike, going nowhere, seeing no new sites.
good luck to us all, waiting for my option request form!

Welcome back! The announcement of starting the P5 Build is progress if the build has actually started. The P5 would be the next major milestone to production. I do need to see video of the build to verify it's started. It was mentioned a few months to complete so mid to late summer, fall, or possibly Christmas are all options.

 

[karl]

Take a bite of this: http://www.statisticbrain.com/startup-failure-by-industry/
And it will take some time before Elio (the company) could even think of going public:http://www.inc.com/guides/preparing-for-initial-public-offering.html

 

[WilliamH]

William,
Just a note about a consistant minor irritation here.
Please stop using forms of the word, "we", as in, "We're adults.", instead of "I'm an adult."
I do not wish you to speak for me any longer. Others may not want that either. Ask first.
If I want to tell someone that I don't need their protection, I'll come forward and do so.
You may feel that you aren't, but I still have a fairly open mind and I'm still a kid at heart.

I stand corrected. I am an adult!
I'll try to keep in mind that some are not and that I don't speak for them.

 

[WilliamH]

WilliamH. I did not excel in English 101, but I did pass. What format does citing one's sources take to be understood? Much of the information I have posted comes from my failing memory. But all of the facts can be found by Googling "Professor Elio" and then following threads.

I like the recent question if one would contribute to crowd funding or an IPO? It has already GONE the crowd funding route in disguise. The current holders of a place in line, are the crowd funding. The fact that EM has a financing company and has not done an IPO troubles me. The only reason not to try going public is because of the probability of failure. One does not necessarily loose control of the company by going public. One usually looses control of a public company only when the company is not well run. This little company went public and raised $300M with the IPO, burned it down to $20M, built it back to @$95M and was sold to Mill City Capital. All within 12years. http://www.bonnettsenergy.com/ A classic example of running a company into the ground on public money and going back to being a private entity.

Until recently you couldn't solicit funds without doing an IPO. Then this 506(c) thing came along. That's the reason for the two private capital companies. All courtesy of the people in Washington, DC. You'll notice they still try to make sure only people with money can make money.

On the citing source, there are a number of ways. Didn't realize, for example, that the "bullet point list" was from the Power Point presentation till I went all the way through and recognized it as a complete copy. I frequently paraphrase a source and then provide the full URL, or quote and indicate "extract from" URL, and of course there is the method used by wiki where there are multiple sources. I do it so that if you read something I wrote you can verify my source if you desire. I've been known to read something quickly and miss a key point from time to time.

 

[Craig]

However, right now, I simply want my vehicle. I do not like it being put into jeopardy because Paul Elio has a control issue.

Said the kettle to the pot.

Or

I want an everlasting gobstopper and I want it now!

 

[AriLea]

I stand corrected. I am an adult!
I'll try to keep in mind that some are not and that I don't speak for them.

I guess I have blocked the jabberwaky(s). I don't see the 'crap' talk because I used the 'ignore' option. I am soooo much happier. But I'm glad others here haven't. 'Cause I can see by their reactions I really don't need to unblock anything for now. My signal-to-noise ratio is just fine now, as a guess.

I imagine as Elio Motors gets more believable the 'wolf-cries' will get louder. That pretty well shows there is an agenda at play.

 

[HHH]

Take a bite of this: http://www.statisticbrain.com/startup-failure-by-industry/
And it will take some time before Elio (the company) could even think of going public:http://www.inc.com/guides/preparing-for-initial-public-offering.html

Thanks for the post, karl. We should refer back to this every time the discussion relates to anxiety over the lack of an IPO. In particular, I quote from the second citation from inc.com :

"The NASDAQ Global Market requires companies have income from continuing operations before income taxes in the latest fiscal year or in two of the last three fiscal years of $1 million or more. The NASDAQ Capital Market has a lower barrier to entry, requiring net income from continuing operations in the latest fiscal year or in two of the last three fiscal years of at least $750,000. Meanwhile, the NYSE's American Stock Exchange (AMEX) requires pre-tax income of $750,000 in the latest fiscal year or in two of the three most recent fiscal years.

The exchanges also offer alternative listing standards based on cash flow, market cap, and revenue for larger companies not meeting the pre-tax earnings' tests."